By now most of you have heard that the first time buyer tax credit has been extended to April 30, 2010.
In addition, there is now a tax credit for current homeowners who have used their home as a principal residence consecutively for 5 of the previous 8 years. This credit also runs to April 30, 2010.
This is good news for anyone who has been thinking about selling their current home and moving into another. The housing market here in Hutchinson, MN is well positioned for anyone wanting to buy another home.
There are some income restrictions to both credits, but most people will fall into the income limits.
If you have any specific questions about either of these tax credits, please call our office.